Employee Benefit Pl American Military University System

EMPLOYEE BENEFIT PLAN

Jonas Salasmenchaca

American Military University System

INTRODUCTION

The success of any organization depends on its precise strategic plan. The company must invest in the customer’s and employee’s satisfaction. The main aim of any business enterprise is to make profit. Customer retention is one of the strategies that can enhance business growth. However, customer retention depends on the attitude of employees towards work. The self- motivated employees work to ensure that the enterprise meets its objectives. Scholars agree that the companies that are able to retain their workforce tend to be more successful than others. Large companies like Google have been able to meet their customer’s needs through employee

The internal factors are those that are associated with the benefits employers offer at their own will. The benefits like the medical insurance and retirement schemes are offered at the employer’s discretion. On the other hand, the external factors are those benefits that employers provide due to the provisions of the law. The federal law requires that every employer should provide the social security and compensation benefits to his/her workers. When developing the benefit plan for employees, companies consider the following

The individuals in the industrial setting are exposed to a lot of risks. The environmental assessment processes will help the management compensate workers accordingly. For instance, machine operators need to benefit from paid leaves. This will help them break the monotony of hard labor.

The employee’s social status should be given little consideration while drawing a benefit plan. It limits the level of association within an organization. If the employee’s social status is considered in developing a benefit plan, then it will result in conflict within the organization. The company should treat all the employees equally while coming up with a benefit plan. However, the top management should receive a higher benefit than the junior staff.

In conclusion, the company’s management should consider employee’s benefits as a strategic tool. The benefit plan helps in creating good relationships within the work environment. It also helps in the improvement of the organizational culture. The management should carry out a regular needs assessment to come up with a sound benefit plan. The assessment will help the organization meet the employee’s needs. This will result in employee’s satisfaction and also lead to the retention of the